The Butler Building: For Sale for the First Time on South Milledge Avenue
If you’ve spent any time in Athens, you know South Milledge Avenue. It’s one of the city’s most iconic corridors — lined with historic architecture, anchored by the University of Georgia to the south and Downtown Athens to the north, and home to the beloved Five Points neighborhood that sits at the intersection of both worlds. For decades, 337 S Milledge Avenue has been a quiet constant on that street. Now, for the first time ever, it’s for sale.
See The Butler Building and its surroundings from above.
About the Property
The Butler Building is a two-story office building offering approximately 21,824 square feet of prime commercial space on 1.75 acres in the heart of the Milledge Avenue Historic District. Built in 1968 and zoned C-O, the building has served as a professional office address for generations of Athens businesses — and the floor plan reflects that history, with dozens of private suites across both floors sized to accommodate a wide range of professional users.
The property sits at a strategic location with double road frontage on both Milledge Avenue and Harris Street, offering excellent visibility from one of Athens’ most-traveled corridors. With 119 parking spaces on site, it offers something increasingly rare in urban Athens: abundant, convenient parking steps from Five Points and Downtown.
The Location
There’s a reason Milledge Avenue commands attention. You’re a quarter mile from West Broad Street and the energy of Downtown Athens, walking distance from the Five Points dining and shopping district, and surrounded by the University of Georgia campus and its facilities — including Stegeman Coliseum and the UGA Indoor Football Facility just up the road.
This isn’t just a good address. It’s an Athens address that people recognize, remember, and seek out.
The Income Opportunity
The Butler Building is currently partially occupied, providing existing rental income with meaningful room to grow. Beyond traditional office tenants, the property’s 119-space parking lot generates its own income stream — from monthly rental agreements, UGA game days, Greek organization events, and other gatherings that fill this part of Athens on a regular basis. Parking income at this location has grown consistently year over year, making it a reliable secondary revenue source that comes built into the deal.
For an owner-occupant, the existing income helps offset carrying costs while you build out your own presence. For an investor or developer, the combination of income-producing space, a high-visibility historic location, and the development potential of 1.75 acres in this corridor presents a compelling long-term opportunity.
Offering Summary
Sale Price: $7,800,000
Building Size: 21,824 SF
Lot Size: 1.75 Acres
Parking: 119 spaces
Zoning: C-O
Year Built: 1968
Location: Milledge Avenue Historic District, Athens, GA 30605
For Sale for the First Time Ever
Properties like this don’t come along often — and when they do, they don’t stay available long. The Butler Building represents a rare chance to own a landmark commercial address in one of Athens’ most established and recognizable neighborhoods.
Contact Brian Elrod, CCIM to learn more or schedule a showing.